UiPath (NYSE:PATH) Price Target Raised to $13.00

UiPath (NYSE:PATH) had its price objective raised by Truist Financial from $12.00 to $13.00 in a research note published on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms have also recently weighed in on PATH. DA Davidson raised their price target on UiPath from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Friday. Scotiabank raised their price target on UiPath from $12.00 to $13.00 and gave the company a “sector perform” rating in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Friday. Royal Bank of Canada raised their target price on shares of UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Evercore ISI cut their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.41.

UiPath Stock Performance

PATH opened at $13.28 on Friday. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -83.00 and a beta of 1.01. The company has a fifty day moving average of $11.53 and a 200 day moving average of $12.69. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $15.93.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $356.62 million during the quarter, compared to analysts’ expectations of $332.17 million. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. UiPath’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. On average, equities research analysts forecast that UiPath will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of the sale, the chief accounting officer now directly owns 314,891 shares of the company’s stock, valued at $3,208,739.29. The trade was a 3.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the sale, the chief financial officer now owns 987,322 shares of the company’s stock, valued at $11,857,737.22. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is owned by insiders.

Institutional Investors Weigh In On UiPath

Several hedge funds have recently made changes to their positions in PATH. Smartleaf Asset Management LLC lifted its position in shares of UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares during the last quarter. Versant Capital Management Inc raised its stake in UiPath by 198.6% in the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock valued at $31,000 after buying an additional 1,970 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

About UiPath

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.